Fine is the largest against a bank so far in Trump administration

WASHINGTON—Regulators levied the largest banking fine of the Trump era against Wells Fargo & Co. on Friday over claims of misconduct in its auto and mortgage lending businesses, the latest in a series of regulatory woes for the bank.

The $1 billion settlement with the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency concerned the bank’s failures to catch and prevent problems, including improper charges to consumers in its mortgage and auto-lending businesses.